Uzbekistan receives observer status in EAEU
BAKU, Azerbaijan, Dec. 11
By Klavdiya Romakayeva - Trend:
Uzbekistan became an observer in the Eurasian Economic Union (EAEU), Trend reports with reference to the organization.
The Supreme Eurasian Economic Council adopted a corresponding decision on December 11, 2020.
President of Uzbekistan Shavkat Mirziyoyev took part in a meeting of the Supreme Eurasian Economic Council.
The president noted that Uzbekistan is at an important stage of large-scale reforms - the country is pursuing an open economic policy, the course towards trade liberalization continues, the process of joining the World Trade Organization has been resumed, and active work is underway to modernize industry and infrastructure.
“Uzbekistan is committed to consistently building up trade, economic and investment cooperation with all foreign partners. We attach great importance to the development of close and multifaceted cooperation with the Eurasian Union,” Shavkat Mirziyoyev said.
In recent years, Uzbekistan has been expanding bilateral cooperation with the EAEU countries. In 2016-2019, the total trade between Uzbekistan and the Union states increased by 60 percent to $8.4 billion.
Today, the share of Uzbekistan's foreign trade with the EAEU amounts to 30 percent, and the volume of agricultural exports exceeds 75 percent.
In accordance with Article 109 of the Treaty on the EAEU, representatives of an observer state can attend meetings of the Union bodies by invitation without the right to participate in decision-making and receive non-confidential documents.
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